News Details
Lotus avoid administration by reaching agreement with Xtrac
Financially strapped Lotus has avoided being ordered into administration by reaching an agreement with a disgruntled supplier. Earlier in July, a spokesperson for London's Companies Court confirmed reports that an order to ‘wind up' the Enstone team had been brought by a creditor. It was confirmed that the unpaid supplier is Xtrac, a transmission specialist. The case was adjourned for two weeks until July 20, ostensibly so that Lotus and Xtrac could negotiate a solution out of court. But as recently as last Friday, ‘Lotus F1 Team Limited' was still appearing in Companies Court's latest ‘winding-up list'. But as the case resumed on Monday, it now emerges that the process...
Full Story »
Full Story »
10y ago from GrandPrix247.com
0
You May Also Be Interested In...
Lotus have almost $1million in unpaid bills
Lotus is behind in 27 bills adding up to almost $1 million in debt,...
10y ago from GrandPrix247.com
Lotus resolves legal issue with key supplier
The prospect of the Lotus Formula 1 facing administration after legal...
10y ago from Motorsport.com
Lotus insist they are not for sale and there is no...
Lotus CEO Matthew Carter has played down reports that it is on the cusp...
10y ago from GrandPrix247.com
Lotus CEO denies Renault takeover speculation
Renault isn't taking ownership of the Lotus F1 Team and neither has it...
10y ago from GrandPrixTimes.com
Elsewhere On The Network
Popular On MGPToday.com
Nicolo Bulega to replace Marc Marquez for remainder of...
Ducati has confirmed that its WorldSBK rider Nicolo Bulega will replace...
16h ago from MotorsportWeek.c...
Pol Espargaro: It’s "painful" Pedro Acosta...
No description available...
17h ago from Motorsport.com
Nicolo Bulega will replace Marc Marquez at Ducati for...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Colton Herta ‘would love to be back’ for another...
Colton Herta still has a desire to compete in next year’s Indianapolis...
1d ago from MotorsportWeek.c...
Marco Andretti announces retirement from racing, won't...
No description available...
3d ago from Motorsport.com
Marco Andretti retires from IndyCar after 20 seasons
Marco Andretti announced his retirement from motor racing on Wednesday,...
3d ago from MotorsportWeek.c...
Mark Miles teases possible non-championship...
IndyCar is largely considered a North American championship, with races...
1w ago from MotorsportWeek.c...
Popular On TotalWRC.com
Kalle Rovanpera completes maiden F2 test ahead of...
No description available...
4d ago from Motorsport.com
Elfyn Evans: WRC points lead “guarantees absolutely...
No description available...
1w ago from Motorsport.com
M-Sport favours new WRC car build over upgraded Rally2...
No description available...
1w ago from Motorsport.com
Lancia confirms 2026 WRC2 entry with the new Ypsilon...
Lancia will return to the World Rally Championship next year with the new...
1w ago from MotorsportWeek.c...
Popular On GunnersToday.com
‘I went for it, put my ego aside’: Robin van...
enoord coach on how a chat with his daughter changed his life, memories of...
6h ago from TheGuardian.com
Report: Arsenal have held positive talks with agents...
Arsenal are hoping to secure a new contract with Bukayo Saka in the coming...
7h ago from CaughtOffside.com
Viktor Gyökeres and Declan Rice on target as Arsenal...
enal set pieces bring such a degree of organised chaos and unconventional...
6h ago from TheGuardian.com
Comments
Hottest News
Adrian Newey makes prediction over 2026 F1 pecking order
The F1 teams are gearing up for a significant... Read More »
12h ago from RacingNews365.com
Yuki Tsunoda mocks Red Bull star with perfect Halloween...
What's the biggest power move you can make on... Read More »
6h ago from GPFans.com
Inside the diet of an F1 driver: Private chefs, blood tests...
Lando Norris has opened up about his 'strict'... Read More »
7h ago from GPFans.com
